MLS4owners.com

Wow, R.H.’s comments are exactly why the Canadian Competition Bureau and U.S. Department of Justice have been so interested in our industry. Let’s address her complaints one at a time. (1) “There truly is no way (sic) cheap way to sell real estate.” By NAR’s own stats, 12-18% of homes are sold as For Sale By Owners, and that does not include the billions of dollars of homes that have been sold through brokerages offering alternative business models. (2) “Most of the "cheap" ones seem to involve the use of large sums of VC.” Not that there is anything wrong with venture capital investment, but MLS4owners.com hasn’t taken a dime of VC money. I don’t think we are unusual in that aspect. (3) “If you have to shove 99% of the grunt work onto the full-service agent - then the buyer/seller needs to PAY that agent for their time.” What more work do they have to do? We have asked this question since our first day in business, and have yet to get a good answer. In fact, by removing a middleman and placing interested parties together directly, our system is more efficient. Some agents complain that they become agents for both buyer and seller when the listing brokerage is not a party to the transaction, but the Northwest Multiple Listing Service issued Legal Bulletin 169 in 2004 to explain how this is not the case. First, the NWMLS stated that limited service listings are lawful in Washington under the Agency Reform Act (RCW Chapter 18.86) and the rules and regulations created by the Department of Licensing. Second, the NWMLS stated "the selling licensee does not have any more duties to the seller in a limited service listing than in other listings where the seller is fully represented." While laws vary by state, a Buyer's Agent's relationship is with his or her client, and the agent should not be providing advice to sellers. Remember - a real estate agent is not permitted to provide legal advice. In Cultum v. Heritage House Realtors, the Washington Supreme Court held that agents will be held to the standard of care of an attorney if they complete real estate purchase and sale forms, and an agent who errs in completing those forms is liable for all damages proximately caused by her negligence. Further, RCW 18.86 requires real estate licensees to advise the seller to seek expert advice on matters relating to the transaction that are beyond the agent's expertise. In sum, buyers agents should not be attempting to provide real estate advice to sellers or to provide legal advice to any party. (4) “Don’t mooch.” A prominent industry member once said that companies like ours eat at the real estate potluck without sharing a dish, but the truth is the opposite. We have brought 5,000 dishes to the table, and we have never eaten. We don’t even bring a fork. We pledge not to represent buyers, and agents representing buyers never have to worry about us stealing their client to double-end our listings. (5) “Most of these "models" don't account for these big issues. That's why they fail.” Some brokerages fail and some succeed, regardless of the nature of their business model. That is the nature of any industry, but our customers have closed nearly $1 billion in sales and saved over $30 million in commissions, and our company is involved in leadership roles in our local and state REALTOR associations and our local multiple listing service. There is room for all sorts of business models, based on consumer demand. The industry is going through a natural labor contraction because the workforce needlessly doubled over the last decade. In order to flourish each person will need to clearly articulate the value proposition they bring to buyers and sellers. Those who do not will move on, which is not only good for those people but also good for the real estate industry. Ken Whitney MLS4owners.com Tacoma Washington

In Washington we have found that education of consumers and real estate professionals has made a difference. Our Department of Licensing and our largest multiple listing service have done well at ensuring that consumers have freedom of choice in real estate services. The same is true for the Federal Trade Commission and the Department of Justice. Our broker now serves on the Boards of our local and state REALTOR associations, and they have taken positive steps by including our viewpoint in discussions of real estate issues. We hope to continue to work within the industry to achieve a level playing field. Ken Whitney MLS4owners.com www.MLS4owners.com

I'm not sure what argument Mr. Lane is making. MLS4owners.com is licensed and regulated the same as any other real estate brokerage, and we have been for many years. We are members of our local, state and national REALTOR(r) associations, and our customers have sold more than $850 million in listed properties. Agents from more than 300 different brokerages have represented buyers for our sellers, and they have earned millions of dollars in the process. On those purchases it is very clear that the buyer agent represents the buyer, just as he or she does in any other transaction. There is no issue of to whom the buyer agent owes a fiduciary responsibility. Many of our customers otherwise would be FSBOs and we bring them to the REALTOR(r) community. Far from taking a free ride, we pay the same as any other member, and we do not compete with agents to double-end the sale. Buyer agents never have to worry about having the listing broker snag their buyer and claiming the buy side of the commission. I don't understand the question about real estate websites being cluttered with listings. We display all listed properties from all brokerages in our geographic market, as do most brokerage websites. We believe in the value of full service representation for those who want it (both buyers and sellers). We also believe consumers should have choices about the services they want and the nature of the fees they will pay, and there are many good options available. Ken Whitney MLS4owners.com